• The Biden administration has been accused of secretly trying to ban crypto through an Obama-era initiative known as Operation Choke Point 2.0, which is designed to cut off “undesirable” industries from banking services.
• Nic Carter – a partner at Castle Island Ventures – believes that the recent attempts are reminiscent of this program, and criticized the decision initiated by the Fed to prevent the crypto bank Custodia from having a seat at its table.
• Marcus Sotiriou – a market analyst at digital asset broker Global Block – said that such a decision would be detrimental to the United States as it would prevent them from getting ahead technology-wise and give other countries huge competitive advantages.
Biden Accused of Secretly Trying To Ban Crypto
Biden and his nation-hating associates have been accused of secretly trying to ban crypto through an Obama-era initiative known as Operation Choke Point 2.0. The plan was designed to cut off any „undesirable“ industries from banking services, including crypto, which is presently unregulated by the federal government.
Biden’s Hypocrisy Surrounding BTC
Biden has been a complete crypto hypocrite from day one. He and his constituents collected tons of money from men like Sam Bankman-Fried and garnered quick and easy ties to fraudulent companies like FTX while later turning around and swearing to impose tight regulations on crypto when the firm collapsed without offering to pay the funds back to those they may have stolen it from.
Implications Of This Plan
Nic Carter – a partner at Castle Island Ventures – wrote in a recent statement that there is doubt if Protego and Paxos – two additional crypto monetary service companies – will be given permission either, due to this plan being implemented across virtually every financial regulator in coordination with one another. This could result in businesses completely unbanked, stablecoins stranded unable to manage flows in or out of crypto, and exchanges shut off entirely from the banking system.
The Risk To US Technology
Marcus Sotiriou – a market analyst at digital asset broker Global Block – said that such a decision would be detrimental to the United States as it would prevent them from getting ahead technology-wise and give other countries huge competitive advantages over America’s own progress in blockchain technology revolution.
Final Thoughts
While some believe Biden is using an Obama-era program for banning BTC, others believe he merely wants tighter restrictions on cryptocurrencies instead. Either way, this plan could have serious implications for America’s standing in terms of technological advancement should these measures go into effect without proper consideration for their potential consequences first..